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tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there when it comes to talking about entitlements, or earned benefits as progressives like to refer to it, what is the way that the president and those on the left can look and also appear to the right to be willing to compromise? what can they put on the table, if anything? >> well, i just don't think that any of us think that it is a reasonable idea to over the course of the next week and a half, over the course of the holiday season, for the president and this congress, which is a lame duck congress, to engage in major entitlement reforms of programs that have helped to lift millions of americans ou
tax cuts, and sort of dare the republican party not to vote for, you know, a new round of obama tax cuts. politically the president holds those but it's more important than that. the american people, after looking at options presented to them reclearly with a return of president obama to the white house, or initiating mitt romney presidency, chose a return of president obama to the white house and therefore gave him a very clear mandate to hold the line on the question of entitlements there...
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Dec 1, 2012
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president obama proposing a plan that calls for a $1.6 trillion in tax increases over ten years. what's lacking is details on spending cuts. after weeks of talking, republicans saying the president is not meeting them halfway. >> there is a tail mate. let's not kid ourselves. i'm not trying to make this more difficult. you watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president or members of both parties to be able to find common ground. >> arthel: is the president looking to pick a fight with the gop and does he want to go over the fiscal cliff? joining us live now, susan estridge and fox news contributor. good to sigh. >> good to see you, art. >> arthel: so is it preposterous or practical to think that president obama wants to go over the fiscal cliff? >> you know, art, i got to believe that at the end of the day, nobody wants to go over the fiscal cliff. i mean, the one thing we know that came out of this election, this very close election, was that people want both sides to work together
president obama proposing a plan that calls for a $1.6 trillion in tax increases over ten years. what's lacking is details on spending cuts. after weeks of talking, republicans saying the president is not meeting them halfway. >> there is a tail mate. let's not kid ourselves. i'm not trying to make this more difficult. you watched me over the last three weeks, i've been very guarded in what i have to say because i don't want to make it harder for me or the president or members of both...
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the politician suggested the gop should accept president obama's plan to extend tax cuts and debate the tax hikes for the wealthy. >> i do believe we should take things where we agree with the president and take them off the table one at a time. this would strengthen our position in the course of the negotiations. >> joining me e is former governor howard dean and congressman tom davis. hello, you guys. good to have you both. so representative davis, i will begin with you. congressman kohl says this move would strengthen the gop position. do you agree or do you think it's a risky approach? >> well, it's a little of both frankly. when you give that up, there's nothing left for the president to agree to. he's won the day. the problem with that is everybody goes off the cliff at this point. everybody's taxes go up and does that strengthen your position? the problem is you need one spokesman for the republicans. the republicans can't have a lot of members out there freelancing their own ideas. you look divided. >> we had timothy geithner defending the plan to avert the fiscal cliff. let's t
the politician suggested the gop should accept president obama's plan to extend tax cuts and debate the tax hikes for the wealthy. >> i do believe we should take things where we agree with the president and take them off the table one at a time. this would strengthen our position in the course of the negotiations. >> joining me e is former governor howard dean and congressman tom davis. hello, you guys. good to have you both. so representative davis, i will begin with you....
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Dec 4, 2012
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now in retrospect i could have told barack obama in 2009 if you had a third of the package as tax cuts then republicans who are traditionally more comfortable with tax cuts may just pocket that and attack to other components of the program. that is exactly right. it appears that the president's team has finally learned that lesson, which is very reassuring. i'm going to bring in michael shure, our epic political correspondent. they're even running ads now or it seems like ads campaign ads even though the campaign is over. let me show you one of them, and then get your reaction. [ ♪ music ♪ ] >> the polling is with the president. the clear mandate of this election was that the majority of americans agreed with president obama's vision of one of the ways to fix the fiscal cliff had to be to put new revenues and raise the tax rates of the wealthiest americans. [ ♪ music ♪ ] >> cenk: so taking this case to the american people fighting strong, making his own case which he we've been asking him to do for four straight years. my reaction was this. >> flabbergasted. [ laughing ] >> cen
now in retrospect i could have told barack obama in 2009 if you had a third of the package as tax cuts then republicans who are traditionally more comfortable with tax cuts may just pocket that and attack to other components of the program. that is exactly right. it appears that the president's team has finally learned that lesson, which is very reassuring. i'm going to bring in michael shure, our epic political correspondent. they're even running ads now or it seems like ads campaign ads even...
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Dec 5, 2012
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yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go up. and we're not going to be able to get a deal without it. p what i've suggested is let's essentially put a down payment on taxes. let's let tax rates on the upper income folks go up. and then let's set up a process with a time certain at the end of 2013 or the fall of 2013 where we work on tax reform, we look at what loopholes and deductions both democrats and republicans are willing to close, and it's possible that we may be able to lower rates by broadening the base at that points. >> in the meantime, now the gop is fighting with itself. speaker boehner is facing growing backlash from the more conse
yesterday obama also appeared to showroom for flexibility on actually relowering those tax rates in the future. >> i don't think that the issue right now has to do with sitting in a room. the issue right now that's relevant is the acknowledgement that if we're going to raise revenues that are sufficient to balance with the very tough cuts that we've already made and the further reforms and entitlements that i'm prepared to make, that we're going to have to see the rates on the top 2% go...
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it's been 16 days since president obama and congressional leaders gathered to talk about how to avoid the fiscal cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >> president obama also proposed a $16 billion of spending cuts. >> i'm just flabbergasted. i looked at him and said you can't be serious. >> the house speaker says republicans put increased revenues including efforts to close tax loopholes and put the tax cuts on the table instead of raising tax rates for anyone. >> if there's another way to get income from upper income americans that doesn't hurt our economy, then why wouldn't we consider it. >> those are publicly unchanged deadlines. whether political theater or political reality, there's more to going over the fiscal cliff far beyond hypothetical. >> i think we're going over t
it's been 16 days since president obama and congressional leaders gathered to talk about how to avoid the fiscal cliff, the automatic spending cuts and tax increases that go into effect january 1. >> i think we're farther apart but we're coming together. >> i think we're nowhere, period. >> thursday treasury secretary tim geithner presented obama's plan, including $1.4 trillion in tax increases. >> there's not going to be an agreement without rates going up. >>...
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well, 28 days to go until tax cuts expire for most americans if president obama and congress can't cut a deal to keep us from going off the fiscal cliff. the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the republic math does not add up. >> that's right, shep. he met with the nation's governors today. he said behind closed doors that there is a lot at stake not just for the national economy but state by state. some of their budgets could take a major hit if, in fact, the nation goes off the so-called fiscal cliff. his spokesman jay carney was even tougher in going after speaker john boehner's latest proposal in saying it simply doesn't add up. >> we don't know who pays. we don't know what we're talking about in terms of actual legislation to increase revenues. it's magic beans and fairy dust. >> the
well, 28 days to go until tax cuts expire for most americans if president obama and congress can't cut a deal to keep us from going off the fiscal cliff. the president says the latest republic offer is out of balance because it extends tax cuts on income of above $250,000. g.o.p. leaders claim they can raise revenue without raising rates by closing loopholes and limiting deductions. but the white house says it's about the rates. ed henry is at the white house tonight. the president claims the...
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we start with president obama digging in his heels about raising taxes on the wealthiest. senior administration official telling "the wall street journal" there will be no new offers until republicans allow tax rates to go up on top earners. this morning, the president accusing the gop of brinksmanship while republican senator orrin hatch said democrats are asking for too much. >> it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply because they refuse to let tax rates go up on the weltiest americans. >> what he proposed this week was a classic bait and switch on the american people. a tax increase double the size of what he campaigned on. >> joining me now nbc white house news correspondent mike viqueira. what can you make of this? fiscal cliff talks are they a nonstarter? >> i tell you, you listen to everything that is being said publicly. you see the president there. it's clear that the election, yes, is over. but the campaign goes on here. you know, i really believe that there two things that are clear from the white house to
we start with president obama digging in his heels about raising taxes on the wealthiest. senior administration official telling "the wall street journal" there will be no new offers until republicans allow tax rates to go up on top earners. this morning, the president accusing the gop of brinksmanship while republican senator orrin hatch said democrats are asking for too much. >> it's unacceptable for some republicans in congress to hold middle class tax cuts hostage simply...
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you're not going to grow the economy if you raise tax rates on the top two rates. it will hurt small businesses or hurt our economy. >> meanwhile, president obama is again stepping into defend susan rice who was locked in a face-to-face power struggle with republicans on capitol hill for the second straight day. as nbc's andrea mitchell reports, it's not getting any easier for the women many believe who will be nominated for the next secretary of state. >> the primary purpose from my perspective -- >> with hillary clinton nodding approval, the president sent a strong message to the republicans, don't mess with my u.n. ambassador. rice a welcomed signal that her nomination is still alive despite another brutal day on capitol hill. >> the u.n. ambassador decided to play what was essentially a political role at the height of a contentious presidential election campaign. >> i would just ask the president to step back for a moment and realize that all of us here hold the secretary of state to a very different standard than most cabinet members. >> reporter: why is she s
you're not going to grow the economy if you raise tax rates on the top two rates. it will hurt small businesses or hurt our economy. >> meanwhile, president obama is again stepping into defend susan rice who was locked in a face-to-face power struggle with republicans on capitol hill for the second straight day. as nbc's andrea mitchell reports, it's not getting any easier for the women many believe who will be nominated for the next secretary of state. >> the primary purpose from...
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if barak obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime percent man date when he only received half. what impact is this having on the psyche of the gop. >> it is affecting the psyche of the president. he's act being like he did win a huge victory . he did win a substitute victory and what happened to the republicans is, they are fearful of all of these taxes going up they are trying to a bargain in good faith to give away something and then say if you will give us something and make us look good. don't humiliate us. the democrats are humiliating the republican party in making that offer . i think their own dignity and principles and beliefs, what republicans ought to say is, we think that extending the tax cuts pay roll and bush tax cuts is good for economy and america and consistent with our principles and blives and you are not going to put a gun to our head and testimony us to give up all of these things and we'll v
if barak obama believes in the clinton tax cuts, let them go back into affect for the entire country and see if the country believes they are good for america. >> the president is campaign acting like he received a anytime percent man date when he only received half. what impact is this having on the psyche of the gop. >> it is affecting the psyche of the president. he's act being like he did win a huge victory . he did win a substitute victory and what happened to the republicans...
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lawmakers are holding middle class tax cuts hostage. and senator orrin hatch accusing the president of pulling a bait and switch. listen. >> the the president said he wants a so-called balanced approach to solve this crisis, but what he proposed this week was a classic bait and switch on the american people, a tax increase double the size of what he campaigned on. billions of dollars in this stimulus spending and unlimited unchecked authority to borrow from the chinese. maybe i missed it, but i don't believe him asking for any of that during the presidential campai campaign. >> jamie: well, the developments are wii by the hour and our steve centanni is covering all of them. good to see you. >> you, too, jamie. one month until the fiscal cliff and appears to be little movement, but a lot of talk back and forth and the president used a campaign style appearance to appeal directly to the american people and pushed for immediate action to extend bush era tax cuts for everybody except the more wealthy americans. >> right now congress can pas
lawmakers are holding middle class tax cuts hostage. and senator orrin hatch accusing the president of pulling a bait and switch. listen. >> the the president said he wants a so-called balanced approach to solve this crisis, but what he proposed this week was a classic bait and switch on the american people, a tax increase double the size of what he campaigned on. billions of dollars in this stimulus spending and unlimited unchecked authority to borrow from the chinese. maybe i missed it,...
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this is why president obama extend the tax rates for a year action because he said this could hurt the economy. here we are again. we're not anywhere different than we were last year really. >> gregg: donna, dick durbin, the senate's number two democrat, said that social security is off the table because i'm going to quote him here -- it does not add a penny to our deficit. that's ludicrus. >> i think that i'm unable to comment because i think the context may have something to do with the sense of lock box and where this money actually comes from and where it sits in the meanwhile before it gets spent. but i also think it's awfully important to remember that in terms of republican cooperation, the president really has been i think very sincere about seeking that cooperation and initially speaker boehner i think expressed with great sincerity his interest in cooperation. i dare say that there has been a lot of biplay among both the senators and the house members on what that cooperation is going to look like. but i do think it's awfully important that we not come out of this process and
this is why president obama extend the tax rates for a year action because he said this could hurt the economy. here we are again. we're not anywhere different than we were last year really. >> gregg: donna, dick durbin, the senate's number two democrat, said that social security is off the table because i'm going to quote him here -- it does not add a penny to our deficit. that's ludicrus. >> i think that i'm unable to comment because i think the context may have something to do...
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obama ran on higher taxes for the wealthy and won. lz, shouldn't he be making the same argument? that is what he ran on. >> absolutely. you know what i find interesting, if you look at the statistics, many of the blue states that supported president obama are some of the richest states in the country. and so not only did you have him defeat romney pretty handedly in the electoral college, but people willing to sacrifice their own money to make sure that president obama, his policies made it to the white house. you know, it was the exact opposite in just the republicans. some of the red states were some of the poorest states in the country. so i think it is very interesting that when you see average american citizens who happen to be making a little bit more money willing to sacrifice for the good of the country, i think that's a good message and something to get behind and stand on. >> lz, our producers are here, can we keep them over the break? i want to be the mediator, do we have time for that? can we do that? stay on the other side of the break. i'm starting with the republic
obama ran on higher taxes for the wealthy and won. lz, shouldn't he be making the same argument? that is what he ran on. >> absolutely. you know what i find interesting, if you look at the statistics, many of the blue states that supported president obama are some of the richest states in the country. and so not only did you have him defeat romney pretty handedly in the electoral college, but people willing to sacrifice their own money to make sure that president obama, his policies made...
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>> i don't know who else goes at this point unless it's obama himself. it's not like the white house is replete with people. make jack lou. i think there is a lot to be said for the white house and their position is going to be able to go through with tax cuts. you know, the middle-class tax cut's going to go through. the tax increases on the rich is going to go through. >> the president has the leverage. the gop accusing the white house of failing to put forward the specifics. are democrats saying we told you what to expect farce revenues, now tell us what you want. >> i think the democrats are really at this point just trying to play this game of chicken. i've just come from capitol hill just now. there was a press conference with harry reid and senator murray, senator schumer, senator durbin. i think what they're trying to do, this is a very high stakes game of chicken. they're trying to have the other side blink first and put out a detailed proposal they can then pick apart without having to do that first themselves. >> meanwhile we have republican c
>> i don't know who else goes at this point unless it's obama himself. it's not like the white house is replete with people. make jack lou. i think there is a lot to be said for the white house and their position is going to be able to go through with tax cuts. you know, the middle-class tax cut's going to go through. the tax increases on the rich is going to go through. >> the president has the leverage. the gop accusing the white house of failing to put forward the specifics. are...
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they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the business in the future growth, but for a one-time equity pay out. >> and to worry about interest rates are low thanks to ben bernanke. >>, but this shows the tax rates combined with very low bore heing costs and instead of investing in growth, you're investing in tax avoidance. >> and russell long said, i've come to the conclusion if you're going to have capitalism, you're going to need capital. >> goes to the heart of this, right? >> pure genius, except what's happening here is that capital could be invested in productive businesses or used next year is being pulled out of 2013, into 2012 so it can be realized as
they're the ones who are going to get hit with the obama taxes and really, i mean, you look at that and you think a normal human being with, you know, would be ashamed of that lack of intellectual honesty, should be. >> it's fascinating economic dri that costco is borrowing the money to pay this dividend. now, usually when companies pay dividends, it's out of earnings, right? >> yes, retained earnings, in this case, they're borrowing, taking on more debt, not to invest in the...
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the white house released a video today showing how president obama has been consistent on his message throughout the last couple of years. it was central to his campaign. >> we need to give tax relief to working families trying to raise their kids to keep them healthy, send them to college, keep a roof over their heads. that's the choice in this election. that's one of the reasons i'm running for a second term as president. >> how quickly we forget. in the words of secretary timothy geithner, this is why republicans have no choice but accepting the tax increases on the wealthiest americans. >> why does it make sense for the country to force tax increases on all americans because a small group of republicans want to extend for 2% of americans? why does that make any sense. there's no reason why that should happen. we can't afford those tax rates. we can't afford them. so we're not going to get to the end now without a recognition of republicans of that basic reality. that's going to be the responsible thing to do. my judgment is they are going to do it because there's no alternative to
the white house released a video today showing how president obama has been consistent on his message throughout the last couple of years. it was central to his campaign. >> we need to give tax relief to working families trying to raise their kids to keep them healthy, send them to college, keep a roof over their heads. that's the choice in this election. that's one of the reasons i'm running for a second term as president. >> how quickly we forget. in the words of secretary timothy...
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now, president obama wants higher revenues and higher tax rates but you know it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love that. hey steve and keith. keith boykin i'll give you a little supply side. you'll hate this. this couples from the irs. the irs is going to use the bush cut, the dreaded bush tax cuts. the richest 1% paid $84 billion inflation adjusted dollars more between 2000 and 2007. that's a rise of 23%. in other words, their tax rates went down. and their tax revenues went up. now, isn't mr. obama making a mistake? >> well, the rich are paying more in taxes because the rich are disproportionately receiving most of the income in this country. the reality, larry, is that in my lifetime we've actually only raise
now, president obama wants higher revenues and higher tax rates but you know it often doesn't work out that way. in fact from kennedy to reagan to clinton to w. bush lower tax rates frequently increased tax revenues, particularly at the upper end of the income stream. so here now to discuss this we have cnbc contributor keith boykin a former clinton white house aide and forbes media chairman steve forbes author of freedom manifesto, why free markets are moral and big government is not. love...
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. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you about what you heard today? >> i think they both made their case well but i think geithner is in a stronger position in this respect. the president is the president. he can maneuver, he can say my $1.6 trillion and he can say $1.2 trillion. speaker boehner has 135 members. they don't hop to it when he decides to move. he's in a tougher position structurally. in these show downs the white house usually wins and the main reason they win is it's a unitary executive. and congress is in a weaker position. >> all right. >> what happened this week is interesting. both sides are putting out their maximalist positio
. >> president obama accusing republicans ever being willing to raise taxes on 98% of americans, while speaker boehner said it's the president when is unwilling to compromise. it's time now for our sunday group. bill crystal of the weekly standard. marcha liason and ed rollins and former democratic senator that you heard. >> each of them are saying they are being reasonable and it's the other side's fault. you have been through your share of washington negotiations. what strikes you...
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take a listen. >> obama: let's make sure that middle class taxes don't go up. let's get that done in the next couple of weeks. let's also work together on a fair balanced responsible plan so that we are paying our bills we're not spending it on things we don't need but we're spending it on the things that make us grow. >> jennifer: he got the message to the public. what is he saying to congress. >> he's basically saying what we've seen other people say here around town which is give me a proposal. i think one of the lessons that the president learned early on during the first part of his administration is i think somebody else in the "washington post" might have said it when they said he's not going to negotiate with himself any longer. the nicer gentler barak obama who did closed-door negotiations who was always greeted by members of congress with obstructionism that is gone with the majority of americans voting for him. he came out and said give me a proposal. if you want to limit tax deductions tell me what it is you want to limit. if you want to reduce enti
take a listen. >> obama: let's make sure that middle class taxes don't go up. let's get that done in the next couple of weeks. let's also work together on a fair balanced responsible plan so that we are paying our bills we're not spending it on things we don't need but we're spending it on the things that make us grow. >> jennifer: he got the message to the public. what is he saying to congress. >> he's basically saying what we've seen other people say here around town which...
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taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money. i'm not fixing the problem by solving the problem, and providing the benefits that people need. >> reporter: cutting spending and attending to constituent needs are often very much in conflict, jenna. jenna: we heard a lot of different strategies, haven't we, doug, the ways to tackle the debt and deficit. is there any alternative that really exists besides cutting government waste and spending? >> reporter: one potential avenue they could take would be to actually fall off the fiscal cliff. that would necessarily make the difficult choi
taxes on wealthy as we all heard. you hear much less about cutting government spending. to make matters worse, citizens sense government waste, congress, especially senate where most members are committee chairman or subcommittee chairman are inate bias against cutting government spending. this is tom schatz. >> they don't want to give up power, jurisdiction or the money. it is also a lot easier for members of congress to run back home and say i'm fixing this problem by spending money....
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and for the obama administration, the question is, is it in their interest to trade tax cuts for the wealthy? increase for the wealthy for raising the age for eligibility for medicare, for example. i'm not sure that that's a trade that they are eager to make immediately. >> let me show you the side by side comparison. the president wants $1.6 trillion in revenue and republicans want to cap the same deductions for the rich but republicans want to change the age to 67 and change the way they calculate social security payments. i wonder, though, when we look at these numbers, are we that far apart in. >> i think they are definitely rather far aare part at this moment in time. yeah, absolutely. >> so there are so many ways that any of this could affect the average tack payer, obviously if taxes go up. but what about funding to states and localities. i know that one of the things that they are concerned about is that when you make cuts, that essentially those cuts are going to come on their budgets. what could happen in a meeting like this between bipartisan governors and the president? >
and for the obama administration, the question is, is it in their interest to trade tax cuts for the wealthy? increase for the wealthy for raising the age for eligibility for medicare, for example. i'm not sure that that's a trade that they are eager to make immediately. >> let me show you the side by side comparison. the president wants $1.6 trillion in revenue and republicans want to cap the same deductions for the rich but republicans want to change the age to 67 and change the way...
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cuts. >> obama: joe biden was in costco. he wanted to buy some of this stuff, but i told him he had too much work to do. i wasn't going to have him building roller coasters all day long. >> cenk: and then i handed him in a pen. >> my favorite reality show on television is joe biden in costco. there was not one sample that he didn't take. >> he's like a kid at costco. >> so it's interesting. that's the first costco that opened up in d.c. and of course, there are a lot of people excited about it, and people want to go and check it out. when you look at the way costco treats its workers that's where the real story is, right? especially when you care costco to walmart. first let me tell you warehouse workers in southern california have petitioned to include wal-mart as a defendant in a lawsuit about wages. theythe average costco worker makes $17 an hour. and average wage for walmart work is $8.81 an hour. >> cenk: that is an enormous difference. costco is not out of business. they're profitable and per employee, this gives you a
cuts. >> obama: joe biden was in costco. he wanted to buy some of this stuff, but i told him he had too much work to do. i wasn't going to have him building roller coasters all day long. >> cenk: and then i handed him in a pen. >> my favorite reality show on television is joe biden in costco. there was not one sample that he didn't take. >> he's like a kid at costco. >> so it's interesting. that's the first costco that opened up in d.c. and of course, there are a...
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i know there's hand wringing out there, maybe the folks on the right say under obama our taxes have gone up and we may more in taxes than we've ever paid and attempt to say, we're not-- >> this is long-term by the president and his allies to create an intellectual justification to raise taxes and in this case, they use the reagan years and often went back to times after world 2, where we were the only big kind of big, healthy industrial economy to say look, we grew then. and again, the point is that we're in a slow growth economy, high unemployment economy, a more competitive world thanks in part to our policies of the past, we need to compete and the highest corporate tax rate in the world, what america has is not the way to be competitive. >> to make the argument we've made is to raise taxes and revenues and approach the fiscal cliff and argument from small businesses and others, if you increase our rate, we're either going to have to layoff individuals, not going to hire anybody else right now, and so, therefore, this economy that's already stalled is not going to grow at a clip. >> y
i know there's hand wringing out there, maybe the folks on the right say under obama our taxes have gone up and we may more in taxes than we've ever paid and attempt to say, we're not-- >> this is long-term by the president and his allies to create an intellectual justification to raise taxes and in this case, they use the reagan years and often went back to times after world 2, where we were the only big kind of big, healthy industrial economy to say look, we grew then. and again, the...
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cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he knows in his heart what he knew in 2010. you raise taxes on everybody, and a weak economy like we've got and you will send it into the dumpster. that's what he's threatening to do. >> that's a fair point. that's the reason it's a weak economy. when bill clinton raised taes and ended up with a surplus, conservatives like yourself loved the fact we had a surplus underather than under the last o administrations. we now have a $16 trillion national debt. >> one question, lanny. under bill clinton, they cut defense spending from reagan 6% of gdp to 3%. cut it in half as a percentage of the economy. that's why he got a balanced budget. he hatched defense. >> we've got to take a break. guys, stay there. by the way, don't forget, bill clinton had newt gingrich and they were a big part of it. actually, clinton sat down with gingrich. i don't see # i don't see that happening here. governor pali
cuts did it, why doesn't barack obama say let's have back all of the clinton tax hikes? let's have back all of the clinton tax increases object on everybody and we'll have a boom because he knows in his heart what he knew in 2010. you raise taxes on everybody, and a weak economy like we've got and you will send it into the dumpster. that's what he's threatening to do. >> that's a fair point. that's the reason it's a weak economy. when bill clinton raised taes and ended up with a surplus,...
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has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a few years back. they would really not be affected by the tax increase that they want us to go through. >> it is one of the great ironies. it has to do with the big lie. if you tell the big lie over and over again people start believing it. and one of the lies that republicans have been telling for year is the lie of trickle down economics. the wealthy are job creators. if you tax them you'll have fewer jobs, fewer--less income over all. it's obviously a lie. it has proven to be a lie. if you tell it again over and over again at least enough people begin believing it in red states. people who ar
has managed to do it president obama's proposed tax increase on the wealthiest 2% of americans would affect 4 million households. they're predominately in areas like south florida major cities like new york, francisco and los angeles, all traditionally democratic enclaves. those who are won't pay the taxes oppose them, and those who will support it. here with me, robert reich at u uc berkeley's goldman school of policies. is this politics that goes back to what is the matter with kansas book a...
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Dec 3, 2012
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there you see the obama offer in terms of what he has put on the table. he would like to see a bunch of new taxes particularly tax 92 creases, $960 billion and the key here is that what the president has offered in all told is $1.6 trillion in new tax revenues and what the speaker countered with today was $800 billion. you can see how far apart the two men are. there is a lot of negotiating to be done between here and there. >> what is your guesstimate on a counter? >> i think we have a counter at some point in the next couple of days. where they go in terms of those numbers i don't know because this would be the first time that either party has to move far off of its talking points. both parties made offers that are basically what the talking points are. now we get to the nitty-gritty. who is willing to show a little leg and compromise. >> quite a metaphor. >> whoa! >> you show a little leg. >> rise above, show a little leg. it's all the same. thank you. >> poor guy he is doing a serious report -- >> and then you guys chime in. >> the "fast money" hounds
there you see the obama offer in terms of what he has put on the table. he would like to see a bunch of new taxes particularly tax 92 creases, $960 billion and the key here is that what the president has offered in all told is $1.6 trillion in new tax revenues and what the speaker countered with today was $800 billion. you can see how far apart the two men are. there is a lot of negotiating to be done between here and there. >> what is your guesstimate on a counter? >> i think we...
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Nov 30, 2012
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the obama people will be able to say you gave away the ability to keep taxes down on 98% of americans. and for the president, the idea that he would allow the taxes to go up, again, on appetizing for him given that he said he would protect the american middle class. lori: he said the same thing over and over again. how do you see this sorting itself out? >> from purely a political viewpoint, i did not see why anyone would not make a deal. the fear i have is they just kick the can down the road thing and they create a three-month bridge. not the heart and soul of it which will be, as you said, some kind of tax hikes. then, you move on, in terms of the entitlement cuts. i do not think we will get the social security. when it comes to spending and social security on the like -- that is what will happen. i do not see why people don't just make the deal. lori: how much further down the road can it go? juan williams, so nice to see you. have a nice weekend. >> thank you, lori. melissa: charlie gasparino has the latest details. he was pulling his hair during the last bit. charlie: i like jua
the obama people will be able to say you gave away the ability to keep taxes down on 98% of americans. and for the president, the idea that he would allow the taxes to go up, again, on appetizing for him given that he said he would protect the american middle class. lori: he said the same thing over and over again. how do you see this sorting itself out? >> from purely a political viewpoint, i did not see why anyone would not make a deal. the fear i have is they just kick the can down the...
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Dec 1, 2012
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said he won this election on, which is having wealthier americans pay higher tax rates. they want to talk about entitlements and this and that, but the tax rates on the rich are more about just this policy debate. there's sort of this philosophical thing of i won the election, and obama -- i don't see any scenario by which he's going to back down. >> one of the things he did which i found interesting, which seems an unnecessary poke in the eye was to say, you know what, as part of this deal i think we should not have congress anymore have to approve raising the debt limit. that was certainly -- >> well, when you go into a negotiation you don't come in with your compromise to start. you kind of have to start at 10 to get -- and it never worked for him before. but the offer from mitch mcconnell, the minority leader, said he laughed at timothy geithner when he presented this offer. but you have to sort of start from your negotiating ground to get to the middle. i will say that it was rejected out of hand on capitol hill, so it's not necessarily a good start. and i would say
said he won this election on, which is having wealthier americans pay higher tax rates. they want to talk about entitlements and this and that, but the tax rates on the rich are more about just this policy debate. there's sort of this philosophical thing of i won the election, and obama -- i don't see any scenario by which he's going to back down. >> one of the things he did which i found interesting, which seems an unnecessary poke in the eye was to say, you know what, as part of this...
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by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on taxing the rich. it is written law. get out there. the rich will pay more money at the beginning of next year. i think we agree on that. >> that is what he campaigned on. stuart: now, if there is no agreement, the republicans will get the blame, won't they? they rejected this deal. this generous offer. >> there is a plan on the table. it is the fiscal cliff. we will have very large tax increases for everybody. the president has proposed something that would force all of that. can the republicans offer publicly an alternative, either to the fiscal cliff or to what the president is offering. t
by treating obama's tax the rich philosophy, this obama supporter got an extra $4 million. i say that is hypocrisy. will you join me in condemning the hypocrisy of the superrich? [ laughter ] >> stuart, it is good to be here. i will have to look into that one a little more closely. i think we are getting closer to a deal before christmas. stuart: the bottom line is, i agree with you, by the way, i do not know about a deal before christmas, but i am sure that the president will insist on...
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out there, the republican from oklahoma, who said we're draz si if we don't extend the middle class tax cuts. you could see more republicans get there. and that's why i'm really glad president obama is not negotiating both for himself and for the republicans, which was sometimes his habit the last time. he's basically saying you want a bunch of cuts i don't have. don't make me propose them. that's creating some pressure on them. i think both those things will have an effect. we'll get the taxes back if we do nothing. >> the conversation in washington being separate from what it feels like the real needs of the country, a familiar feeling for me. i often have this frustration that the beltway discussion is not what the important questions are that are facing the country. in this case, i feel like as long as we're willing to talk about the economic needs of the country, as long as we're willing to talk about fiscal policy, how can it be we're not talking about new stimulus. the republicans ran against that as if the stimulus was this awful thing. but the republicans lost and we have an ec
out there, the republican from oklahoma, who said we're draz si if we don't extend the middle class tax cuts. you could see more republicans get there. and that's why i'm really glad president obama is not negotiating both for himself and for the republicans, which was sometimes his habit the last time. he's basically saying you want a bunch of cuts i don't have. don't make me propose them. that's creating some pressure on them. i think both those things will have an effect. we'll get the taxes...
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lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes, john boehner fired back the talks are on life support. >> let's not kid ourselves. >> boehner ripped the president for sending treasury secretary ti tim geithner to capitol hill with a proposal that led mitch mcconnell literally burst out laughing. >> the white house took three weeks to respond with any kind of proposal. and much to my disappointment, it wasn't a serious one. >> their beef is the president campaigned on $800 billion in tax increases by ending the bush tax cuts for the wealthy. but is now proposing double that. $1.6 trillion. by adding tax hikes on dividends and capital gains. plus, the white house wa
lawmakers to accepting the tax hikes now. >> i miss visiting towns like this. >> president obama got his wish, rather than negotiating with republicans he was hamering them. back on the campaign trail in a factory that makes angry bird toys. >> it's not accept to believe me and i don't think it's acceptable for you for republicans in congress to hold middle class tax cuts hostage because they don't want the tax rates on the upper income folks to go up. >> within minutes,...
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we've got four years of regulation taxes. he wants to add higher taxes to that. tea party, too, is going to dwarf tea party one if obama pushes us off the cliff. >>> another major story from the weekend, it was an emotional weekend in the nfl and in kansas city as the chiefs took the field on sunday just 24 hours after a tragedy involving a key member of their team. police say linebacker jovan belcher shot and killed his girlfriend, the mother of his infant daughter. minutes later he took his own life in the parking lot of arrowhead stadium where the chiefs play right in front of his coaches. nbc's tan trareporter. >> reporter: kansas city head coach romeo crennel wiped away tears on the sideline one day after witnessing linebacker jovan belcher taking his own life. >> i'm choosing not to answer any questions about what i saw yesterday. and i think that you will understand that, and hopefully you will respect my wishes on that because it wasn't a pretty sight. >> reporter: belcher shot himself here at this practice facility at famed arrowhead stadium. crennel tol
we've got four years of regulation taxes. he wants to add higher taxes to that. tea party, too, is going to dwarf tea party one if obama pushes us off the cliff. >>> another major story from the weekend, it was an emotional weekend in the nfl and in kansas city as the chiefs took the field on sunday just 24 hours after a tragedy involving a key member of their team. police say linebacker jovan belcher shot and killed his girlfriend, the mother of his infant daughter. minutes later he...
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the republican plan would raise tax revenue by not extending the current obama cut in payroll taxes. but the republican plan still refuses to raise the top income tax rates. yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax rates. if they recognize the reality that we can't afford to extend those tax rates, then we have a basis for the agreement and that's going to be the responsible thing to do and my judgment is they are going to do it. >> joining me now, ezra klein, huffington post, ryan grim. ezra, what do you make of the boehner proposal that was kind of cribbed from erskine bowles? >> two things. one, republicans are terrified about by the polls showing that they are going to immediately get blamed if they are not willing to compromise. the reason you initiate the bowles' plan is you say, look, they are going along with t
the republican plan would raise tax revenue by not extending the current obama cut in payroll taxes. but the republican plan still refuses to raise the top income tax rates. yesterday, treasury secretary tim geithner made it clear that there can be no deal without higher top tax rates. >> last question, can you promise that we will not go over the cliff? >> no, i can't promise that. that's a decision that lies in the hands of the republicans that are now opposing increases in tax...
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michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on americans earning $250,000 or more. most republicans remain dead set against the president's plan. >> that's true. i think, though, we have to take a look at the larger context. the larger context is we have a math problem. we have $2.5 trillion that we're taking in every year on the federal government and $3.5 trillion that we're spending. so, we're going to need a balanced approach of both revenue and spending cuts to teat there. so, that's what the president has been talking about and certainly something i can support. >> "the wall street journal" today senior administration officials say the white house not making any ne
michael is the president and ceo of kinex. >> good morning. >> president obama said a fam of four's taxes could go up. what impact does that have? >> it's fantastic to have the president our endorser in chief. when you remove that discretionary income and toys are a discretionary purchase as are other things. you are having some potential impact on the entire economy. obviously, toys and other things, as well. >> the president's plan calls for raising the tax rates on...
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obama wants to raise taxes on the wealthy. obama wants to eliminate deductions and close loopholes plus cut spending for entitlement programs. the president has said there can't be tax cuts for the rich at the expense of the domestic program which is frustrating for some republicans. >> this president, i think the president with president obama he's a small minded president in big times. he is talking about 35 verses 39.6 for people who make over a million dollars. that doesn't get us out of debt. >> both sides will be taking their plan to the public this week they will meet with governors for state business he's meeting with the governors today. john boehner will be with governors plus conduct rallies with small business owners. we don't know if these two sides are going to reach an agreement any time soon and the fiscal cliff is past approaching. >> thank you very much. we are going to keep with the fiscal cliff and take a look at who is talking. charles krauthammer weighing in on the negotiations. the approach on the presid
obama wants to raise taxes on the wealthy. obama wants to eliminate deductions and close loopholes plus cut spending for entitlement programs. the president has said there can't be tax cuts for the rich at the expense of the domestic program which is frustrating for some republicans. >> this president, i think the president with president obama he's a small minded president in big times. he is talking about 35 verses 39.6 for people who make over a million dollars. that doesn't get us out...
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speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide told us the two sides aren't even talking. not surprisingly the white house disagrees. >> i can guarantee you conversations continue at different levels. and among different groups. >> reporter: both parties are ready to play the blame game in case negotiations fail. >> there's only one person out of 370 million americans who can sign something into law and that's the president. >> 60% of americans are asking the wealthy to pay more. >> reporter: a "the washington post" poll say 53% of americans will blame republicans and 29% would hold the president responsible if the nation goes over the fiscal cliff. the two s
speaker boehner offered the republican proposal this week and now he faces opposition from president obama. >> the speaker's proposal is out of balance. >> reporter: some in his own party are lining up against him. jim demint a tea party leader said speaker boehner's $800 billion tax hike will destroy american jobs and allow politicians in washington to spend even more. disagreements among republicans and democrats here on capitol hill is nothing new, but tuesday a republican aide...
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the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank finefein. >> the highlight of the meeting was the intensity from which the white house emphasized that marge al rates as a matter of math and politics have to go up somewhat, if not all the way to 31.6 had to go up and as p he said as a necessary ingredient of a deal, he would support such a rate. >> the president said we would pursue our own interests. i'm not -- i'm certainly not insisting, i don't even desire higher rates. i think there lab drag if revenue goes up and rates go up. but i think there will also be a drag on the american economy if our budget deficit widens out fo
the one thing we do know, your taxes are going up from an obama care tax attack. no matter what happens on the fiscal cliff. and is another bailout nation on the way? student loans up to $1 trillion, huge delinquency rates, default rates going sky high, no credit standards and sky high tuition. sound likes a real bad story to me. ceos have just wrapped up their meeting with president obama about the fiscal cliff and minutes ago john harwood landed a big fish. goldman sachs ceo lloyd blank...
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in the next hour and a half, president obama will continue the great reasonableness tour of 2012. visiting a middle class family in northern virginia with the aim of putting more pressure on congress to extend middle income tax cuts. majority leader harry reid did his part for the cause on the senate floor today. >> so it's apparent how this will end. the only question is, when will it end? it's how long will speaker boehner make middle class families wait for relief and how long will he force the financial markets to wait for uncertainty. >> joining the panel now, the sage of capitol hill, the seasonally elegant luke russert. >> thank you so much for having me. >> you get a special intro when you arrive on set a little late. thrilled to have you here, with ongoing deliberation on capitol hill, you are the eyes. >> eyes and ears hopefully. yet i'm here, congress is recessed this week. >> always a reason, my friend. the fact that tim geithner came out and said, we will go over this cliff, is somewhat counter to what the president has been saying thus far. you couple that and the re
in the next hour and a half, president obama will continue the great reasonableness tour of 2012. visiting a middle class family in northern virginia with the aim of putting more pressure on congress to extend middle income tax cuts. majority leader harry reid did his part for the cause on the senate floor today. >> so it's apparent how this will end. the only question is, when will it end? it's how long will speaker boehner make middle class families wait for relief and how long will he...
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taxes on those making $250,000 or more. if you look at questions coming in, there's still concerns about those ideas, so the president answering those this afternoon. this is really like a twitter town hall. he used a similar tactic back in 2011 to talk about jobs and the economy. also remember during the payroll tax cut fight, senior administration officials tell me they have gotten more responses during this my2k hash tag initiative than in the past. that stands for $2,000, which is how much taxes would increase. john boehner says this is at a standoff. all sides need to come back to the table at some point to get progress anytime soon. tamron. >> let me bring in congressman chris van hollen. thank you for your time, sir. very busy and saw you on the monday morning program as well. how would you categorize talks right now? is this a true stalemate? >> well, it's only a stalemate because speaker boehner, the republican leader, has not put his proposal on the table. as you know, the president has put his cards on the table.
taxes on those making $250,000 or more. if you look at questions coming in, there's still concerns about those ideas, so the president answering those this afternoon. this is really like a twitter town hall. he used a similar tactic back in 2011 to talk about jobs and the economy. also remember during the payroll tax cut fight, senior administration officials tell me they have gotten more responses during this my2k hash tag initiative than in the past. that stands for $2,000, which is how much...